Ripple has appealed to Judge Torres to seal records related to the SEC’s Motion for Judgment and Remedies as part of their ongoing litigation. A total of 280 million XRP tokens were transferred between Ripple and CEX.
Whale Alert, a blockchain tracker, has reported that unidentified addresses recently moved 279.97 million XRP between Bitstamp and Ripple. This development comes after omnibus letter applications were filed on May 13 to seal important information about remedies-related documents in the Ripple XRP v. U.S. SEC case.
Renowned attorney James K. Filan revealed that Jonathan Bilich, Ripple’s CFO, has submitted a declaration supporting the company’s request to seal documents related to discounts given on XRP to institutional customers.
During the petition to seal specific papers connected to the SEC’s Motion for Judgment and Remedies, it was discovered that a massive 280 million XRP tokens were exchanged between Ripple and a controlled exchange (CEX). Here is a summary of the events surrounding the filing of omnibus letter motions and additional comments from Ripple’s CFO.
Whale Alert’s findings show that unidentified addresses recently transferred 279.97 million XRP between Bitstamp and Ripple. Notably, the XRP whale known as Rzn has been consistently moving funds to Bitstamp, with the most recent transfer involving 29.97 million XRP.
However, other transactions have also attracted attention. These involve the transfer of XRP from Ripple to an unknown address through an unknown wallet. The first transfer sent 150 million XRP to the address 7XZ63sKxv3 using Ripple, and another 100 million XRP was sent to the address …r2SE32hk.
Ripple’s CFO stated in his declaration that it supports the redactions proposed by Ripple, as they pertain to highly sensitive and confidential financial terms of Ripple’s contracts with third parties, specific financial figures derived from non-public audited financial statements, and sensitive information from internal financial reports regarding business strategies.
At the time of writing, the price of XRP was approximately $0.5004, showing a 1.31% decrease over the past 24 hours and a 3.83% drop over the previous seven days. The ongoing legal dispute and recent actions by Ripple have had an impact on market sentiment towards XRP.
